CII FBN Journal July August 2020

JUL/AUG 2020

E-CONNECT

The Journal for FBN India chapter activities

Family business leaders

Webinar

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CII FBN e-Connect Journal

Helping Next Gen

Find Their Place in

Family Enterprise

C

II FBN India Chapter

27 July 2020, Monday, 1800 - 1900 hrs (IST)

and Family Business Consulting Group (FBCG)

The session focused on

USA, collaborated to

importance of Identity. It

organize an online session

advocated the ideas of

on – “Who am I? Helping

resolving Identity issues of

Next Gen Find their Place

NexGen by providing deep

in the Family Enterprise”

insights to deal with

on 27th July 2020. The

insecurities that come

session deliberated on the

with age and which need

concept that all business -

to be managed by the

owning families want continuity. They also want strong family relationships and a strong business. In order to successfully achieve both, it is important to understand and use a key ingredient: IDENTITY

Mr. Ajay S. Shriram, Chairman, CII FBN India Chapter and Senior Managing Director, DCM Shriram Ltd, presented his welcome remarks and

m

Chairman, CII FBN

India Chapter and

Mr. Ajay S. Shrira

Senior Managing Director

,

DCM Shriram Ltd

introduced the participants to the panellists – Mr. Tom

The digital session witnessed large

Emigh, Consultant, Amy

participation from both national and

Wirtz, Consultant and Ms. Richa Singh, Affiliate

international audiences. International delegates were represented from - Hong Kong, United Arab Emirates, Saudi Arabia,

Consultant who

Singapore, Nepal, Turkey and different

moderated the session.

parts of Europe.

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CII FBN e-Connect Journal

It also highlighted the importance of having a strong family relationship and business, understanding and untangling the multiple roles within the family, creating plans that allow space for new ideas, risks and failures & encouraging NexGen growth in leadership and family roles.

Mr. Tom Emigh

Consultant

The session also created a unique and effective platform for the NexGen members of family businesses to come forward and understand their position in their particular family enterprise.

Amy Wirtz

Consultant

Ms. Richa Singh

Affiliate Consultant

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CII FBN e-Connect Journal

Realizing Meaningful Careers

for Next Gen to Thrive Acrosss Generations -

The Role of Daughters 20 May 2020, Wednesday, 1600 - 1730 hrs (IST)

A

The digital interaction highly prolific

The interaction

featured Professor

enabled the panellists

webinar focusing on

Paolo Morosetti as the

to engage with

the rising role of

moderator and among

audiences from family

daughters in the realm

the key panellists were

business background,

of family business was

Professor Denise

ranging from NowGen

conducted by CII-FBN

Kenyon-RouvInez,

to NexGen,

India Chapter on 20

Ms. Lavanaya Nalli

academicians and

May 2020. The key

and Mr. Arjun

students.

theme that was

Chowgule.

deliberated was the succession and role of young women in the family business environment and the path ahead to achieve their career goals.

Denise

Mr. Arjun Chowgule

Kenyon-Rouvinez

FBN NxG Leadership

Executive Chairman

Team

Gen 10 SA

President & Executive

Director Chowgule

& Co.Pvt. Ltd.

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CII FBN e-Connect Journal

It also highlighted important issues revolving around succession trends which included millennials being motivated to change jobs, shifts in paradigm such as learning to work and addressing conflict together & the need to change the mindset of society in

giving equal opportunities & privileges to young women in their families. The session was well-attended by 33 participants from across sectors. The session witnessed the participation of both Indian & International delegates.

Paolo Morosetti

Universita Bacconi, Milan

Moderator

Lavanya Nalli

Vice Chairman

Nalli Group of Companies

Webinar focus:

WOMEN IN FAMILY BUSINESS. Culture

Succession

Role of daughter and women throughout

history and change in the society

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ebinar

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CII FBN e-Connect Journal

5

Reviving Operations

in Family Business

during

a vital role to demonstrate in bringing back th Covid Crisis hope in peoples’ lives e

30 April 2020, Thursday, 1600 - 1700 hrs (IST)

T

o deliberate upon few strategies in terms of restoring operations in family businesses, a webinar on Reviving Operations in Family Businesses during

COVID Crisis was organised on 30 April 2020 by CII FBN India Chapter to offer a safe space to learn from, share with and inspire each other.

Yet, by marrying the expertise of an enterprise with the soul of a family, the family business owners have an inherent competitive advantage that can be leveraged to ensure survival and prosperity despite the crisis.

The way of working has changed due to digitalisation. However, the economy continues to struggle & employees haven’t been able to insulate themselves from the fear of uncertainty

due to the pandemic.

The leaders all around the world are trying hard to create a positive impact on people’s lives. People are challenged to remain motivated.

They are looking for

inspiration that speaks to their needs.

Employees want to believe again in their leaders. The need for real solutions & strong leadership is at an all-time high.

In this scenario, the family businesses have

and guiding them towards an efficient business flow.

The strong values

and ethos of the families would play important role to pave the path of managing the situation and bringing back the confidence in people to fight their way back to normalcy.

The webinar featured key speakers such as Mr. Farhad Forbes, Chairman, FBN International and Co-Chairman, Forbes Marshall, Mr. Ajay S. Shriram, Chairman, CII FBN India Chapter

and Senior Director, DCM Shriram Limited; Sanjay Budhia, Managing Director, Patton Group. The Session was moderated

by Mr N.V. Sivakumar, Partner & Leader, Entrepreneuria l & Private Business, PwC India.

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Mr N.V. Sivakumar

Partner & Leader

Entrepreneurial & Private Business

PwC, India

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CII FBN e-Connect Journal

Mr Forbes shared his

He further claimed that

perspective on the

the lockdown in India,

pandemic and the current

which commenced on 24

situation. He highlighted

March 2020, was not a

the challenges and called

co-ordinated response to

the pandemic an

the crisis and that the

unprecedented crisis in

level of coordination in

terms of global scale,

re-starting the recovery

speed and depth of the its

would require absence of

impact across various

contrary directives from

sectors. He also

different authorities

mentioned that

including local

recovery from this crisis

authorities and such

will depend upon two

clarity would play a

factors– a) Approach of

critical role in restoring

the Government on

the business activities. In

balancing the spread of

the area of business, he

the virus with economic

advocated 3 ways of

factors and b) How

working –

quickly we can have a coordinated re-start for reviving business operations.

Mr. Ajay S. Shriram

Chairman, CII FBN

India Chapter and

Senior Managing Director,

DCM Shriram Ltd

Family businesses are the lynchpin of the Indian economy. However, the severe and unwanted role played by the current crisis has forced the economy, businesses and people to suffer immensely.

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CII FBN e-Connect Journal

Sanjay Budhia

Managing Director

Patton Group

Mr. Farhad Forbes

Chairman

FBN International and

Co-Chairman

Forbes Marshall

Short Term – management of cash, collection of all the dues and deferment of expenditures on non-essential products.

Medium Term – To be prepared to operate with a reduced workforce given that the operations are not going to bounce back to a 100% capacity, focusing on efficiency and predacity.

Long Term – Diversification of customers with regards geography & industry

While speaking on the “New Normal”, Mr Forbes gave his key recommendations for

grappling with the crisis which were:

A Learning to adapt and be aware of the current scenario.

B Accepting what can or cannot be controlled.

C Understanding that the new methods of working are here to remain due to their contribution to productivity and

unpredictability of the future.

D Making the best use of the situation with transition to digital

technology as this would also optimise “Work from Home” (WFH) mode of working, connecting with customers digitally

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through training sessions and business developments,

connecting with our own employees from different parts of the country and the world.

Throwing the light on covid situation, Mr Shriram said that the change is permanent and acceptance of new ways of functioning and management is very critical for survival.

Digitally connecting people across the world has been a great learning, he further added. In

addition, he claimed that moving ahead with the pre-conceived notion & philosophies of the past need to be eliminated in order to achieve efficiency in the business domain. For continuing a thriving business, Mr. Budhia encouraged the use of effective communication with family members and employees. Going forward, infusing confidence and support in your organization’s employees will be fruitful, he added.

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CII FBN e-Connect Journal

WOMEN IN FAMILY BUSINESS

LEADING THROUGH THE CRISIS

A

conversation on

The webinar featured Mrs Pratima

how women are being

Kirloskar, Chairperson

impacted by Covid-19,

Family Business

the unique opportunities

Subcommittee (CII

that have opened up for

WR), President

them, and the changing

Innovations (Society),

role of women in family

Kirloskar Brothers Ltd,

businesses was

Priyanka Nijhawan -

organized jointly by CII

CII IWN Member,

FBN India Chapter and

Director Nijhawan,

CII Indian Women

Divya Chauhan - CII

Network on 18 April

IWN Member,

2020.

Chairperson Amity School of Fine Arts in Conversation with

Aditya Berlia Chairman, CII Delhi, Co-Promoter Apeejay Stya and Svran Group.

Divya Chauhan

Mrs Pratima Kirloskar

CII IWN Member

Chairperson, Family

Chairperson Amity

Business

School of Fine Arts

Subcommittee,

(CII WR) President Innovations (Society)

Kirloskar Brothers Ltd

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CII FBN e-Connect Journal

Various sectors were represented in the webinar. The women representatives from different sectors discussed their plans on managing the crisis which included virtual training on effective work from home guidelines to their staff and employees.

The webinar also highlighted the

While speaking on the

They further added

growing demand in the

role of women and

that investing in

use of technology

their contributions

initiatives that support

which ushers in

made during the

women at the work

fundamental structura

pandemic, the speakers

place is a “win-win�

l changes that can be

supported and

situation since both

integral to achieving

encouraged the cause

employees and

significant

of hiring more number

employers obtain real

improvements in

of women and

benefits. The private

productivity across

providing equal

sector, which

various areas of

opportunities to them

represents almost 9 out

business.

at the workforce.

of every 10 jobs in developing countries, has a major role to play.

They discussed that companies with a higher presence of women than men are still a rarity, despite the progress made on gender equality.

Priyanka Nijhawan

Aditya Berlia

CII IWN Member

Chairman CII Delhi

Director Nijhawan

Co-Promoter

Apeejay Stya and Svran Group

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CII FBN e-Connect Journal

Insights On How Businesses And

Families Can Adapt To The Crisis

T

he CII FBN India Chapter conducted its first virtual session on “Sustainable Thinking : Insights on how businesses and families can adapt to the crisis”.

The webinar was held on 9 April 2020 and led by Professor Paolo Morosetti, Senior Lecturer of Strategy and Entrepreneurship at SDA Bocconi School of Management along with guest speakers Mr. Farhad Forbes, Chairman, FBN International and Mr. Ajay Shriram, Chairman, FBN India.

The webinar was held in light of the emerging issues with respect to sustainable living

brought forth by Covid-19 pandemic.

Mr. Ajay Shriram spoke on the severity of the impact of the pandemic in India and the world.

Expressing concern over the challenges thrown at the fore by this pandemic, he stated that large, medium & small family

Paolo Morosetti

Università Bocconi

Professor

Mr. Farhad Forbes

Chairman FBN International and Co-Chairman Forbes Marshall

USTAINABLE THINKING

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was imposed to safeguard public health and to contain the spread of the virus.

In the domain of family businesses, the webinar focused on ways to help them survive this

challenging period.

The discussion touched upon factors that might be helpful for their survival such as extreme proximity of family to the business, appropriate decision making, mastering dual strategies (management of today’s business and planning for the future), extreme focus on cash flow manage ment,developing a contingency plan for the next 3-6 months, support for advocacy initiatives to help Indian family businesses to tackle the financial impact and maintaining regular communication with financial institutions.

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businesses are all in a tough position in terms of cash flows, meeting wage bills and are also fraught with various liabilities. While speaking on the role of

government, he said that the government should be looking at assistance close to 5% of the GDP which could help these businesses tackle the ongoing situation. The webinar also highlighted various measures taken by the Government of India in the wake of this pandemic such as financial support packages and stimulus to those in need.

While speaking on the shocking impacts of coronavirus situation over short term, Mr Farhad Forbes briefed the audience on the lockdown measure recently taken by the

Government of India to prevent the spread of disease across the country. The 21-day lockdown, as it stood at the day of the event, was imposed to safeguard public health and to contain the spread of the virus.

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CII FBN e-Connect Journal

In the domain of family businesses, the webinar focused on ways to help them survive this

challenging period.

The discussion touched upon factors that might be helpful for their survival such as extreme proximity of family to the business, appropriate decision making, mastering dual strategies (management of today’s business and planning for the future), extreme focus on cash flow management,

developing a contingency plan for the next 3-6 months, support for advocacy initiatives to help Indian family businesses to tackle the financial impact and maintaining regular communication with financial institutions.

Mr. Ajay Shriram

Chairman, CII FBN India Chapter & Chairman & Sr. Managing Director DCM Shriram Ltd.

CII - FBN INDIA CHAPTER

presents

XXI ANNUAL CONVENTION ON

Family business SAVE THE DETAILS

DATE

29

to

Mamta Sharma

Pankhury Harbansh

9818458800

98711 91756

mamta.sharma@cii.in

pankhury.harbansh@cii.in

30

SEPT 2020

CONTACT

About us

CII FBN e-C

onn t ourna ec

J

13

l

ABOUT CII FBN INDIA CHAPTER

C

II FBN India Chapter has emerged as the most useful platform for Indian famil businesses to engage with one another to address their critical business challenge through peer learning, knowledge sharing, leadership y

s

development and engagement with International subject matter experts and professionals, etc.

We also unite the family business community to provide a voice, a sense of belonging and an environment for learning and development.

We create unique and valuable peer to peer contact and opportunities for generations of families in business to share their experiences and insight. Â

For more details, kindly visit: www.ciifbnindia.org

CII FBN India Chapter Team Ms Amita Sarkar

Executive Director

CII FBN

India Chapter &

Deputy Director General

Confederation of

Indian Industry

amita.sarkar@cii.in

Ms Mamta Sharma

Manager

CII FBN

India Chapter

mamta.sharma@cii.in

9818458800

Ms Pankhury

Harbansh

Executive

CII FBN

India Chapter

pankhury.harbansh@cii.in

9871191756

ABOUT U

S